There's a story circulating today about SoftBank's investment in OpenAI and their requirement that OpenAI reincorporate quickly, in pursuit of an IPO, or lose half the investment. In this video, I recap the broader story here of OpenAI's unusual corporate governance situation as a not-for-profit with a for-profit subsidiary. It could turn out to be very impactful if OpenAI gets bogged down in related lawsuits that delay its potential IPO, and it is not so fanciful as people like Elon Musk have already demonstrated the will (and at least a little bit of the standing) to bring this kind of litigation.